CHANROBLES VIRTUAL LAW LIBRARY
US LAWS, STATUTES and CODES : Chan Robles Virtual Law Library USA Supreme Court Decisions | Resolutions : Chan Robles Virtual Law Library

ChanRobles™ Virtual Law Library™ | chanrobles.com™   
Main Index Repository of Laws, Statutes and Codes Latest Philippine Supreme Court Decisions Chan Robles Virtual Law Library Latest Legal Updates Philippine Legal Resources Significant Philippine Legal Resources Worldwide Legal Resources Philippine Supreme Court Decisions United States Legal Resources United States Supreme Court Jurisprudence ChanRobles LawTube - Social Network

ChanRobles Internet Bar Review : www.chanroblesbar.com DebtKollect Company, Inc. - Debt Collection Firm Intellectual Property Division - Chan Robles Law Firm

Philippine Supreme Court DecisionsChanRobles On-Line Bar Review

google search for chanrobles.comSearch for www.chanrobles.com


YONKERS V. DOWNEY, 309 U. S. 590 (1940)

Subscribe to Cases that cite 309 U. S. 590 RSS feed for this section

U.S. Supreme Court

Yonkers v. Downey, 309 U.S. 590 (1940)

Yonkers v. Downey

No. 542

Argued February 29, 1940

Decided April 22, 1940*

309 U.S. 590

Syllabus

1. Concurrent findings of two lower courts accepted here, to the effect that withdrawals of deposits from a national bank were made when there was reason to believe that the bank would be unable to repay its depositors in due course, and with intent to prefer. P. 309 U. S. 595.

2. National banks have no implied power to pledge assets as security for deposits. P. 309 U. S. 595.

3. Rescission by a national bank of an unauthorized pledge securing deposits is not conditioned upon return of the amounts deposited. P. 309 U. S. 595.

4. The Act of June 25, 1930, permits national banking associations to give security for deposits of public money of a State or any political subdivision thereof "of the same kind as is authorized by law of the State in which such an association is located in the case of other banking institutions in the State." Held, that such pledges are not "authorized" by the law of a State (New York) which forbids them as ultra vires, though it conditions rescission upon repayment of deposits made in reliance upon them. P. 309 U. S. 597.

106 F.2d 69 affirmed.

Certiorari, 308 U.S. 547, to review the affirmance of recoveries by a receiver of a national bank of deposits withdrawn from it while insolvent. The case was tried to the court without a jury. 23 F.Supp. 1018. chanroblesvirtualawlibrary

Page 309 U. S. 593





Back
ChanRobles™ LawTube

google search for chanrobles.com Search for www.chanrobles.com


Supreme Court Decisions Philippine Supreme Court DecisionsUS Supreme Court Decisions



www.chanrobles.us




QUICK SEARCH

cralaw

Browse By ->> Volume


cralaw

Browse By ->> Year


cralaw

  Copyright © ChanRobles Publishing Company | Disclaimer | E-mail Restrictions
ChanRobles™ Virtual Law Library | chanrobles.com™
 
RED